Egypt achieves 5.5 pct industrial growth

Daily News Egypt
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Egypt’s Industry and Trade Minister Rachid Mohamed Rachid said that the rate of industrial growth in Egypt reached 5.5 percent this year, which is a high rate despite the global economic crisis that affected the economies of most of the major countries around the world, adding the target is to reach 10 percent in 2013.

The ministry built 1,302 factories with total investments of LE 79 billion, he said, adding non-oil exports reached LE 105 billion in 2010, jumping from LE 97 billion in 2008, according to the State Information Service.

The industrial development plan 2010-2013 is built on setting up new industrial zones in Egypt’s governorates and encouraging the private sector’s participation in developing the infrastructure and utilities, improving human resources and upgrading the Egyptian industry, he added.

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